Deals17 Nov 2025, 09:12 pm
Sobhagya Mercantile Ltd Secures Mining Contract with Assam Mineral Development Corporation Ltd
AI Summary
Sobhagya Mercantile Ltd has been awarded a Letter of Intent by the Assam Mineral Development Corporation Ltd. (AMDCL) for the Vadakhol Asoli Ni, Cr, Co & other Associated Mineral Block, Maharashtra. The contract is for obtaining a composite license, prospecting, preparation of a geological report, mining plan approval, land acquisition, drilling, excavation, transportation, supply of the mineral as MDO, and sale of the mineral on a revenue sharing basis with AMDCL from the block.
Key Highlights
- Sobhagya Mercantile Ltd has been awarded a mining contract by the Assam Mineral Development Corporation Ltd.
- The contract is for the Vadakhol Asoli Ni, Cr, Co & other Associated Mineral Block, Maharashtra.
- The contract involves obtaining a composite license, prospecting, preparation of a geological report, mining plan approval, land acquisition, drilling, excavation, transportation, supply of the mineral as MDO, and sale of the mineral on a revenue sharing basis with AMDCL from the block.
- Sobhagya Mercantile Ltd has submitted a performance security of Rs. 1,50,00,000/- (Rupees One Crore Fifty Lakh Only) vide Bank Guarantee.
- The contract is not a related party transaction.